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7314 N 21st Avenue Phoenix, AZ 85021

3 Beds 2 Baths 1,428 sqft Built 1957

$320,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1957
  • Price/Sqft : $224.09
  • 10 Days on Market
  • MLS # : 6170413
  • Updated Date : 12/19/2020 at 18:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,428 sqft
  • Baths : 2 full
Listing Agent

Realty Executives

Listing Agent's Description

WOW. This is a fully remodeled 3 bedroom and 2 bath home with a pebbletech pool that was just refinished along with new pump and filter. The home has a new 200 amp electric panel along with all new windows, new stainless steel appliances, new flooring throughout, new cabinets and custom tile showers. This home really has it all along with quartz counters and 2 family room areas as well as a large laundry room inside the home. There is also a brand new A/C unit. This home is a must see.

SEE MORE

PRICE & RENT TRENDS

Neighborhood: New Castle Homes

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $83k271k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: New Castle Homes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500Rent in $8201567

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Orangewood Elementary School Primary Regular 1,016 48 4
Orangewood Elementary School Middle Regular 1,016 48 4
Washington High School High Regular 1,714 73 4

Orangewood Elementary School

  • Education Level: Primary
  • # of students: 1,016
  • # of teachers: 48
4
GreatSchools Rating

Orangewood Elementary School

  • Education Level: Middle
  • # of students: 1,016
  • # of teachers: 48
4
GreatSchools Rating

Washington High School

  • Education Level: High
  • # of students: 1,714
  • # of teachers: 73
4
GreatSchools Rating
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,181
Property Tax -$191
Property Insurance -$55
Property Management Fees -$99
CASH FLOW
$214

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$320,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.32%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.56%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$47,147

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,735

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,5453$1,5504$1,6005$1,895
$1,895
RENT COMPS ANALYSIS
  • 7314 N 21st Avenue Phoenix, AZ 1
    • 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1957 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1957
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 7318 N 20th Drive Phoenix, AZ 2
    • 3 beds 2 baths ∙ 1,235 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,235 Sqft ∙ Built 1959
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $1.25
    •  
  • 2233 W Belmont Avenue Phoenix, AZ 3
    • 3 beds 1 baths ∙ 1,375 Sqft ∙ Built 1955 3 beds 1 baths ∙ 1,375 Sqft ∙ Built 1955
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.13
    •  
  • 7126 N 19th Avenue #158 Phoenix, AZ 4
    • 3 beds 3 baths ∙ 1,408 Sqft ∙ Built 1970 3 beds 3 baths ∙ 1,408 Sqft ∙ Built 1970
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.14
    •  
  • 7309 N 21st Avenue Phoenix, AZ 5
    • 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1959 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 1959
    LEASED 12/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.34
    •  
PROPERTY LISTING DETAILS
Leonard Behie
Realty Executives
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6170413
Last Updated: 12/19/2020
support@investimateroi.com

Indicates a property listed by a real estate brokerage other than HomeUnion/Investimate by Mynd. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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